European Session – PMI data disappoint in UK, Eurozone and US, dollar holds steady above 120 yen
Posted on October 5, 2015 at 2:42 pm GMTThe main news out of the European session was the UK services PMI release, which disappointed to show the weakest level since August 2013, causing sterling to give up all of its morning gains against the dollar. The Markit/CIPS services PMI dropped to 53.3 in September from August’s 55.6. The reading was sharply below estimates of 56.0, raising fears that the recent slowdown in global growth is spreading beyond the manufacturing and industrial sectors. Cable fell from a session high [..]